Which of the following is TRUE?
a. Maximizing division profits always leads to maximizing company-wide profits
b. Managers of profit centers are not given any discretion in their decision making
c. Profit centers often largely run by themselves without a lot of executive oversight
d. A manager being rewarded on division revenues has no incentive to make good decisions for his division
c
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The table above gives production information for Bob's Baseball Cap Company. Bob's total cost when zero caps are produced is $200 and workers cost $10 per hour. The total variable cost of producing 18 baseball hats per hour is
A) $200.00. B) $30.00. C) $1.67. D) More information is needed to answer the question.
Returns to scale refers to the change in output when
A) all inputs increase proportionately. B) labor increases holding all other inputs fixed. C) capital equipment is doubled. D) specialization improves.
Which school calls for more information from policymakers so that people can incorporate government plans into their outlook for the future?
a. The new classical school b. The new Keynesian school c. The traditional Keynesian school d. The monetarist school e. The classical school
A price index based upon the items purchased by firms is the
A. CPI. B. core PCE. C. Producer Price Index. D. PCE.